Industry 4.0: A Key Enabler of the Circular Economy
Digitisation activities associated with Industry 4.0 and the Internet of Things are prompting a step change in the efficiency of industrial processes.
Real-time automated monitoring of factory processes facilitated by Industry 4.0 platforms enables manufacturers to improve productivity, and energy and resource efficiency, with a one-year return on investment.
This Insight introduces the key characteristics and challenges associated with adopting Industry 4.0, exploring the key benefits perceived by small and large companies using these systems in their factories from the perspective of edinn, a Spanish Climate-KIC partner and technology leader in this field. The Insight highlights the potential for Industry 4.0 to enable increased and more diverse product exchanges through the creation of real-time digital marketplaces, concluding with the criteria for selecting an appropriate Industry 4.0 platform recommended by edinn.